Documentation Basics

PLEASE WRITE THIS ENTIRE THING DOWN IN YOUR NOTEBOOK, IT WILL BE REQUIRED LATER.


Steps involved in Processing a Sale -

  1. Fill the policy form and get required signatures from the customer.
  2. Collect KYC documents from the customer. 
  3. Collect payment via Cheque/DD/Cash/Debit card/Credit card along with GST amount
  4. Submit the duly signed and filled form at the branch
  5. Collect First Application Receipt (FAR) and give it to the customer.
  6. Inform the customer to attend a Welcome and Verification Call from companies' end to verify details entered.
  7. Policy Bond gets delivered in 7 - 8 working days at the customer’s mentioned mailing address.

 

KYC documents to be collected

From Proposer - PAN photocopy (mandatory) self attested + Aadhaar card photocopy (mandatory) self attested + Bank statement or Cancelled Cheque with customer's name printed on it or Passbook front page copy self attested + 1 coloured photo
front page copy self attested + 1 coloured photo


From Life Insured – Photocopy of any Age proof from the mentioned below proofs self attested + 1 coloured photo


Age Proof Options - Pan Card/ Aadhar Card/ Passport front and back page/ Driving License/ / 10th mark sheet/ School ID card (in case of minor)

From Nominee - Nothing


NACH - It is mandatory to take NACH in all policies because of the following reasons -

  1. It saves policies from getting lapsed
  2. It saves customers effort of remembering to go online/office and making necessary premium payment
  3. It is a hassle free and free of cost service.

If NACH gets rejected due to insufficient balance, it is the customers responsibility to make payment of the policy by any mode during all subsequent years and save it from getting lapsed.





Last modified: Wednesday, 10 Apr 2019, 15:44